bridge security is forcing a rethink of event-driven flows

When books are thin, narratives look stronger than they are.

Improvements in perpetual futures without confirmation from treasury diversification tend to fade faster.

That debate sits next to today’s market focus around “Stablecoin governance group behind OUSD sets out management fee, offers equity earning pool.”

Meanwhile, lending markets can either confirm the move or expose it as temporary.

Better questions beat louder opinions when regimes shift.

If basis trades deteriorates while stablecoin minting looks fine, the tape often turns defensive first.

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